Pharmacoeconomics? What drug provides the best value?

Some patients don't remember the color of the pills they take, much less the name of the medicine or the manufacturer. They just want to get well.

One pharmaceutical industry group which pays attention to pills and what they do completes a five-day conference Wednesday at the Philadelphia Marriott: The International Society for Pharmacoeconomics and Outcomes Research's (ISPOR).

What is pharmacoeconomics?

Pharmacoeconomics refers to scientific research that compares the value of one drug or drug combination to another.

Basically, what pill works better.....and what is the best value? But how do we define "value."

This scientific discipline has gotten more challenging in recent years and the hepatitis C drug Sovaldi has spurred lots of discussion.

Some of the public debate was over the eye-popping sticker price of $84,000 for a 12-week treatment. Price is very negotiable for some segments of the healthcare industry, but that is the most commonly cited price. And it is too high for many. The New York Times reported Wednesday that several groups are prepared to launch new lawsuits to void the main patent for sofosbuvir, the active ingredient in Sovaldi. The link is here.

But the second part of the debate -- and topic of research -- is whether the $84,000 might be cheap because Sovaldi cures hepatitis C in 90 percent of cases. Theoretically, that means the patient, his or her insurance company and/or the government won't have to pay for liver cancer treatments or a liver transplant. Different segments of the healthcare industry profit handsomely from those procedures and they might be among the loudest voices about drug prices.

This was the 20th annual international ISPOR meeting.

The National Pharmaceutical Council, based in Washington, does this comparative effectiveness research on behalf of its members. Those members are big pharmaceutical companies, such as Merck, Pfizer, etc. A link to the NPC is here.

For example, on Tuesday, NPC Chief Science Officer Robert W. Dubois, was part of a panel entitled, "Distinguishing Biosimilarity – How Can We Generate Real-World Evidence To Support Decision-Making?"

NPC Research Director Mike Ciarametaro offered a workshop called, "Design Of Bundled Payment In The Ambulatory Setting Of Care."

 

 

 

 

 

 

 

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The National Pharmaceutical Council (NPC) will present and exhibit at the International Society for Pharmacoeconomics and Outcomes Research's (ISPOR) 20th Annual International Meeting at the Marriott Philadelphia on May 16-20, 2015.

 

Check out these presentations on Tuesday, May 19:

 

NPC research partners will present "How Should The FDA Regulate The Communication Of Health Economic Data By Pharmaceutical Companies To Payers?" at 11:00 am ET.

NPC Chief Science Officer Robert W. Dubois, MD, PhD, will participate in an issue panel, "Distinguishing Biosimilarity – How Can We Generate Real-World Evidence To Support Decision-Making?" at 2:15 pm ET.

NPC Research Director Mike Ciarametaro will present during a workshop, "Design Of Bundled Payment In The Ambulatory Setting Of Care," at 3:45 pm ET.

NPC also will be involved in several poster presentation discussions on Monday, May 18, from 6:45 pm - 7:45 pm:

 

NPC Vice President of Health Services Research Kimberly Westrich will present findings from NPC's annual survey, "2015 Comparative Effectiveness Research and the Environment for Health Care Decision-Making."

The CER Collaborative will have a representative from the University of Maryland School of Pharmacy, Matthew Pickering, PharmD, RPh, present, "Improvements in Self-Reported Real-World Decision-Making Ability After Completion of a Comparative Effectiveness Research Continuing Education Certificate."